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Bequests and Other Ways to Support The Kentucky Center
Bequest in Your Will or Trust
If you have already remembered The Kentucky Center please let us know. We wish to acknowledge your generosity with membership in the Encore Society, a group of benefactors whose love for The Kentucky Center is expressed in their support for its future.
Bequests are a tradition as old as the performing arts. They are the most popular way to leave a charitable legacy to The Kentucky Center because
- You can change your bequest at any time.
- You retain full use of your property during your life.
- Your estate receives a charitable tax deduction.
- You can permanently honor your support or memorialize a loved one.
Your bequest may be for A specific sum of money, a specific item or the residue (or a percentage) of your estate.
Retirement Plan Assets
You can name The Kentucky Center as the beneficiary of some or all of the assets remaining in your IRA, 401(k) or other qualified plan after your lifetime. You need only change your the "beneficiary designation form" provided by your plan administrator.
Retirement funds offer a straightforward way to bequeath a gift to the Center. They are one of the best assets to give to The Kentucky Center because they are exceptionally inefficient in passing wealth to heirs.
If left to your children, grandchildren or individuals other than your spouse, the retirement funds face both income and estate tax, in some cases leaving only about 30% of the assets for the remaining family. On the other hand, as a tax-exempt charity, The Kentucky Center will receive 100% of the gift free of any tax.
Life Insurance Policy
If you own a life insurance policy and you no longer need its protection, you can name The Kentucky Center as owner and beneficiary of the policy and will be entitled to a current charitable income tax deduction.
Or, if you choose to name The Kentucky Center as beneficiary of the policy, the Center will receive the face value at your death and your estate will receive a charitable deduction.
For more information about bequests and other estate gifts to The Kentucky Center, please contact Suzanne Guss, planned giving officer, at (502) 562-0799 or send an email to email@example.com.